By A remarkable 2,492-carat rough diamond, potentially worth over $40 million, has been discovered in Botswana by the Canadian mining company Lucara Diamond. This extraordinary find is the second-largest diamond ever recorded, underscoring Botswana’s critical role in the global diamond industry, where the nation accounts for about 20 percent of world production.
William Lamb, President and CEO of Lucara, expressed his excitement over this historic discovery, stating, “We are ecstatic about the recovery of this extraordinary 2,492-carat diamond. This find not only showcases the remarkable potential of our Karowe Mine, but also upholds our strategic investment in cutting-edge XRT technology. The ability to recover such a massive, high-quality stone intact demonstrates the effectiveness of our approach to diamond recovery and our commitment to maximizing value for our shareholders and stakeholders.”
Lamb further emphasized that this discovery reinforces Karowe Mine’s status as a world-class diamond producer and highlights the success of Lucara’s operational and underground development strategy.
Beyond the immediate financial implications, Botswana’s diamond industry, including this latest discovery, plays a crucial role in the country’s socio-economic development. Revenues from diamond mining support key sectors like education and healthcare, contributing to national growth and well-being.
This significant discovery comes at a time when Botswana is considering new legislation that would require mining companies to sell substantial stakes to local entities, further integrating the diamond industry with the nation’s broader economic interests.
While Lucara has not yet disclosed specific details about the diamond’s quality or exact value, this discovery is expected to boost investor confidence in Botswana’s mining sector and stimulate discussions about the country’s evolving mining policies and its position in the global diamond market.
